France Opens Registration For Crypto Asset Service Providers, MiCA Rules Ready To Be Implemented

JAKARTA - Autore des Marchés Financiers (AMF), France's financial market regulator, recently took important steps by opening registration for crypto asset service providers. This action is in line with preparations for the implementation of a new European Union rule governing the crypto asset market, known as Markets in Crypto Assets (MiCA), which will take effect on December 30.

The AMF stipulates ten types of crypto asset services that require authorization from the European Union. Among them include custodian service providers and crypto asset administration, the operation of crypto asset trading platforms, as well as crypto asset exchanges with fiat money or other crypto assets. In addition, service providers must comply with regulations related to the prevention of money laundering, terrorism financing, and cybersecurity.

MiCA regulations are a milestone for crypto asset service providers who want to operate in the European market. Despite the transition period until July 2026, all providers in the European Union must obtain authorization according to MiCA.

Responses to this change have emerged from industry players. The global crypto exchange, Bybit, announced the termination of its product and service offerings to French citizens and residents in response to the new rules. However, Bybit plans to obtain authorization to return to serve the French market.

Reporting from DL News, MiCA rules aim to create a clearer and safer framework for the crypto industry in Europe. With this regulation, it is hoped that confidence in the crypto market will increase, while preventing risks from activities that are not well regulated.

For business people in this sector, registration with AMF is not just a formality, but a strategic step to ensure compliance and competitiveness in the market that is increasingly regular. The EU's implementation of MiCA emphasizes that crypto regulation is a major concern, and industry players must be ready to adapt to keep developing.